Any proposed mill levy is subject to a vote by all affected property owners, lessees and residents

Why would a downtown need a DDA?

A self-sustaining champion for downtown

Has the ability to create and use financial tools (i.e. TIF and mill levy)

Has the ability to leverage other sources of funds to help finance downtown improvements

Can be the key to implementing the downtown vision and plan

Uses for TIF Dollars

Tax Increment Financing (TIF) is a unique mechanism that enables a Downtown Development Authority (DDA) to use the net new tax revenues generated by projects within a designated area to help finance future improvements. TIF is a new source of tax revenue, not an additional tax, that would not be available but for new investment.

TIF keeps the tax dollars from going into the general funds and instead re-invests these funds into investments to improve the property and services within the DDA area.

Focusing on improvements in a downtown area will increase sales tax and property taxes that go back into the town’s general fund for improvements throughout the whole town.